Courtesy of Benzinga.
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday April 1, 2013:
Nasdaq OMX Group Acquire eSpeed Platform from BGC Partners for $750M in Cash
The Deal:
The NASDAQ OMX Group (NASDAQ: NDAQ) announced Monday it has entered into an agreement with BGC Partners (NASDAQ: BGCP) to acquire the eSpeed platform for a purchase price of $750 million in cash plus certain contingent issuances of NASDAQ OMX stock over 15 years. NASDAQ OMX expects the transaction to close in mid-2013.
Nasdaq OMX Group closed at $32.01 Monday, a loss of $0.29 on lower than average volume. BGC Partners closed at $3.85, but traded up as much as 89% after-hours.
Report of Tibco Conference Cancellation Leads to Takeover Chatter
The Rumor:
Shares of Tibco Software (NASDAQ: TIBX) moved higher Monday on takeover speculation, after a report the company cancelled out of a Pacific Crest conference scheduled for April 9.
After-hours TIBCO announced that Sydney Carey, TIBCO executive vice president and chief financial officer, has decided to leave the company to pursue an opportunity with a private, venture-backed technology company. Murray Rode, TIBCO chief operating officer will take on the added responsibilities of interim CFO until a permanent replacement is found.
Tibco Software closed at $20.14 Monday, a loss of $0.08 on higher than average volume.
Weiss Family to Acquire American Greetings for $18.20/Share
The Deal:
American Greetings Corporation (NYSE: AM) announced Monday that it has signed a definitive agreement under which a newly organized entity owned by the Weiss Family will acquire the Company.
Under the agreement, American Greetings Class A and Class B shareholders, excluding the Weiss Family and related entities, will receive $18.20 per share in cash, and, if declared by the Board of Directors, one regular quarterly dividend of $0.15 per share declared and payable in a manner consistent with the Company’s past practice. If the transaction closed in July 2013, the targeted closing date, the total cash amount shareholders would receive would be $18.35 per share.
American Greetings closed at $18.05 Monday, a gain of 12% on 73 times average volume.
Hess Sells 100% of its Russian Subsidiary Samara-Nafta to Lukoil for $2.05B
The Deal:
Hess Corporation (NYSE: HES) announced Monday it has entered into an agreement with OAO LUKOIL (OTC: LUKOY) to sell 100 percent of its Russian subsidiary Samara-Nafta for a total consideration of $2.05 billion. Based on its 90 percent interest in Samara-Nafta, total after tax proceeds to Hess are expected to amount to approximately $1.8 billion. Samara-Nafta is currently producing 50,000 barrels of oil equivalent per day in the Volga-Urals region of Russia.
Hess closed at $73.54 Monday, a gain of 2.7% on average volume.
Churchill Downs to Acquire Oxford Casino for $160M
The Deal:
Churchill Downs (NASDAQ: CHDN) announced that it has entered into a definitive purchase agreement to acquire Oxford Casino in Oxford, Maine, for total consideration of approximately $160 million, to be paid in cash.
The transaction, which is dependent on the Company securing a gaming license from the Maine Gaming Control Board, and on other usual and customary closing conditions, is anticipated to close in the fourth-quarter of 2013. If certain closing conditions are not satisfied, the Company could be obligated to pay an $8 million termination fee.
Churchill Downs closed at $71.47 Monday, a gain of 2% on average volume.
